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Wind Works Power Corp WWPW

Wind Works Power Corp. is a Canada-based zero emission company. The Company is engaged in designing, large-scale wind farms. The Company is developing a pipeline of projects in Germany and has a project pipeline in the United States. The Company has its projects in Ontario, Germany and in the United States of America. The Company’s project in Ontario includes Capstone Infrastructure JV and Skyway 126. The Company's project in the United States of America includes Big B and Buffalo Ridge. The Company is developing an approximately 40-megawatt (MW) pipeline of wind farm projects in Germany. The Company is also developing a solar pipeline of about 100 MW in the United States of America. The Company primarily intends to develop wind parks. It assembles land packages, secure requisite environmental permitting, provide wind testing by erecting towers to measure wind speed.


GREY:WWPW - Post by User

Bullboard Posts
Post by scissors14on Jun 17, 2011 12:50pm
233 Views
Post# 18729808

Wind Works Power Corp. Closes Sale of a 50% Intere

Wind Works Power Corp. Closes Sale of a 50% Intere

OTTAWA, ONTARIO, Apr 28, 2011 (Marketwire via COMTEX News Network) --

Wind Works Power Corp. (OTCQB:WWPW)(FRANKFURT:R5E1)(WKN:A0RPM2) is pleased to announce it has signed agreements and closed on the sale of a 50% interest in Wind Park Burg 1, a 4 megawatt (MW) wind project located in Germany. Following the sale, Wind Works will retain a 50% ownership of the project, and will continue to manage its ongoing development.

Transaction Highlights:


-- 50% interest sold to private European investor group, 50% to be retained
by Wind Works

-- 860,000 Euro (approx. $ 1.2 Million) down-payment, further payments to
follow based on milestones

-- Wind Works will earn a 1.5% royalty on gross revenues of the wind farm,
with the potential to increase the royalty interest to 2.5% based on
performance

-- Construction start date scheduled for September 2011, budgeted
construction costs are 10 Million Euro

"This sale re-enforces our strategy of diversifying in to 3 markets globally - Germany, Canada and the USA", comments
 Dr. Ingo Stuckmann, Wind Works' President and CEO." With our recent sale of 50MW in Ontario, Canada, we have now generated revenue in 2 markets and our plans call for revenue to be earned as early as next year in the US market following our recently announced acquisition of Thunder Spirit, a 150MW project located in North Dakota."

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